@article{oai:kitakyu.repo.nii.ac.jp:00000555,
 author = {松本, 守 and 孫, 月},
 issue = {1・2・3・4},
 journal = {商経論集},
 month = {Mar},
 note = {Using a unique dataset of Japanese companies that went public during 1995 to 2004, this paper empirically studies board turnover-performance relations and its impact on performance improvement. This paper finds that board turnover increasas significantly with poor firm performance. This is true even after control for the manager turnover. This paper also finds that manager turnover-performance relations in IPO firms are weak because of managerial entrenchment. Finally, there seems to be no performance improvement after board turnover and manager turnover, even when manager leaves involuntarily.},
 pages = {43--69},
 title = {取締役Turnoverと企業パフォーマンス--IPO企業を対象とした実証分析--},
 volume = {52},
 year = {2017}
}